Pokarna redeems Zero Coupon Foreign Currency Convertible Bonds partially

Pokarna Ltd had issued Zero Coupon Foreign Currency Convertible Bonds ("Bonds") aggregating to USD 12 millions in March 2007 which was due for redemption on March 29, 2012.

The Company partially redeemed 3700 units constituting total face value of USD 3.7 millions, in December, 2012.

The Company has on May 15, 2013 paid for redemption of 3762 units constituting a total face value of USD 3.762 millions by utilizing External Commercial Borrowing availed from Union Bank of India. Procedural formalities relating to marking down the said bonds are under progress.

With the above redemptions, outstanding position of the units would stand reduced to 4538 units with face value of USD 4.538 millions.

Shares of Pokarna last traded in BSE at Rs.76.20, down by Rs.3.30 or 4.15%. The stock hit an intraday high of Rs.81.60 and low of Rs.75.60.

The total traded quantity was 50 compared to 2 week average of 13601.

Source : Equity Bulls

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